China Qinfa Group Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
China Qinfa Group Limited stock downgraded from Buy Candidate to Strong Sell Candidate after Thursday trading session.
(Updated on May 16, 2024)
The China Qinfa Group Limited stock price fell by -3.33% on the last day (Thursday, 16th May 2024) from HK$0.600 to HK$0.580. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.51% from a day low at HK$0.570 to a day high of HK$0.590. The price has fallen in 6 of the last 10 days and is down by -4.92% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately HK$3.70 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.36% during the next 3 months and, with a 90% probability hold a price between HK$0.624 and HK$0.90 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0866.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Qinfa Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.619 and HK$0.599. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -15.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Qinfa Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.540 and HK$0.530. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Qinfa Group Limited finds support just below today's level at HK$0.540. If this is broken, then the next support from accumulated volume will be at HK$0.530 and HK$0.500.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0200 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0866.HK) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect China Qinfa Group Limited to open at HK$0.580, and during the day (based on 14 day Average True Range), to move between HK$0.543 and HK$0.617, which gives a possible trading interval of +/-HK$0.0368 (+/-6.34%) up or down from last closing price. If China Qinfa Group Limited takes out the full calculated possible swing range there will be an estimated 12.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.600 (3.45%) than the support at HK$0.540 (6.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is China Qinfa Group Limited stock A Buy?
The China Qinfa Group Limited stock holds several negative signals and despite the positive trend, we believe China Qinfa Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.432 Strong Sell Candidate Downgraded
Predicted Opening Price for China Qinfa Group Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| HK$0.580 ( 0%) | HK$0.580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0866.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.600 | 3.45 % | |
| R2 | 0.592 | 2.13 % | ||
| R1 | 0.588 | 1.32 % | ||
| Current price: | 0.580 | |||
| Support | S1 | 0.572 | -1.32 % | |
| S2 | 0.568 | -2.13 % | ||
| S3 | 0.560 | -3.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.690 | 18.97 % | |
| R2 | 0.640 | 10.34 % | ||
| R1 | 0.600 | 3.45 % | ||
| Current price | 0.580 | |||
| Support | S1 | 0.540 | -6.90% | |
| S2 | 0.530 | -8.62% | ||
| S3 | 0.500 | -13.79% |
0866 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2013 | Oct 30, 2013 | Oct 30, 2013 | HK$0.0100 | 1.64% |
| 2 | May 31, 2013 | May 31, 2013 | May 31, 2013 | HK$0.0300 | 3.85% |
| 3 | Oct 04, 2012 | Oct 04, 2012 | Oct 04, 2012 | HK$0.0200 | 2.17% |
FAQ
Click here for our free guide on how to buy China Qinfa Group Limited Stock.
